FINANCIAL NEWS

Saudi Arabia to expand China energy investments

03 Jul 2016

(MENAFN) Saudi Arabia aims to enlarge its investments in China’s energy industry, part of the world’s major oil exporter’s efforts to boost collaboration with a top customer.

Accordingly, the kingdom is very keen to raise their partnership in the energy sector to the highest level, which will cover all Chinese provinces.

Additionally, both sides shared interest in crude oil storage, mining, renewable energy and industrial development.

Meanwhile, Saudi Aramco and petrochemicals conglomerate Saudi Basic Industries Corp (Sabic) have mutual venture businesses in China and projects under development.

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